Sellers respond to a shortage by cutting their prices
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Most recessions last approximately three years
a. True b. False
Economics
QN=70 (17785) In the economy of Wrexington in 2008, nominal GDP was $20 billion and the GDP deflator ratio was 500. What was Wrexington's real GDP in 2008?
a. $2.5 million b. $10 million c. $40 million d. $100 million
Economics